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Beginning of Paper
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Oligopolists
There are four market structures in our economy today : Perfect
competition, monopolistic competition, oligopolies and monopolies. This essay
shall describe the oligopoly market.
The definition of an oligopoly states that in an industry, a small
number of firms dominate the market. There are a low number of firms in the
industry, becasue and adding to the barriers to entry. The barriers of entry to
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Middle of Paper
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.... that may be unfair to the consumers. This
includes misleading advertising, market sharing and collusion.
Collusion is where the firms of an industry meet a set, common price, or agree
not to come into each other in the market area. These two above practises are
ways of government intervention that regulate the conduct of oligopolies.
Australian examples of oligopolies include, Hoyts, Kelloggs, Bridgestone,
Dunlop, Carlton United, Dulux and Coca Cola.
In conclusion, Oligopolis ....
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